https://www.taxtmi.com/caselaws?id=57575 Revisional jurisdiction under the surtax provisions does not arise merely because a revisional order contains errors in describing the assessee or mixing account figures; such defects may show an incorrect approach rather than no application of mind. For a foreign company, capital base is computed from head-office accounts. Retained earnings included within other reserves qualify as reserves rather than unallocated profits, and a reserve connected with scientific research expenditure remains includible despite income-tax allowance of the underlying expenditure. As the original assessments were neither erroneous nor prejudicial to revenue on these grounds, the revisional order was set aside. en-us Fri, 17 Dec 1993 00:00:00 +0530 Fri, 10 Dec 2010 18:26:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57575 Revisional jurisdiction under the surtax provisions does not arise merely because a revisional order contains errors in describing the assessee or mixing account figures; such defects may show an incorrect approach rather than no application of mind. For a foreign company, capital base is computed from head-office accounts. Retained earnings included within other reserves qualify as reserves rather than unallocated profits, and a reserve connected with scientific research expenditure remains includible despite income-tax allowance of the underlying expenditure. As the original assessments were neither erroneous nor prejudicial to revenue on these grounds, the revisional order was set aside. Case-Laws Income Tax Fri, 17 Dec 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57575